Headlines

Global DMS, a provider of Web-based compliant valuation management software, announced the launch of Appraisal Tracking On Mobile (ATOM), a new app designed to improve appraisers' field productivity by enhancing their ability to communicate and access information.

Freddie Mac released Thursday the results of its weekly Primary Mortgage Market Survey, showing the average 30-year fixed interest rate dropping 15 basis points to 3.97 percent (0.5 point) for the week ending October 16. The week's average marks the lowest level for the 30-year fixed-rate mortgage (FRM) since the week of June 20, 2013—which also happens to be the last time it averaged below 4 percent.

Cincinnati-based eLynx has entered into an agreement to acquire the assets of Pittsburgh-based mortgage services provider Medallion Analytics Company, the firms announced.

The economy continued to grow on a "modest to moderate" track over the last month, with consumer spending and job growth fueling improvements in other economic sectors, according to the latest update from the Federal Reserve. With two weeks to go until the Federal Open Market Committee's next policy meeting, Wednesday's report further bolsters the popular prediction that the central bank will vote to end its monthly bond-buying program.

Citigroup reported an increase of 7 percent in its net income from $3.2 billion up to $3.4 billion year-over-year in the third quarter. Overall, Citigroup's revenues increased by 9 percent year-over-year in Q3, up to $19.6 billion.

In survey findings released Tuesday, Bankrate.com reported that two-thirds of American consumers are now limiting how much they spend each month. Of those who have had to draw their purse strings tighter, 32 percent cited stagnant income as the main reason, while 29 percent said they need to save more. Sixteen percent cited worries about the economy in general.

Fewer than one-third of American consumers have a passable understanding of their financial rights, according to a new study from FICO. In a comprehensive survey of U.S. bank customers, the analytics company found only 30 percent of those quizzed about their financial rights earned a passing grade, with only 1 percent achieving an A (with 92 percent of responses correct).

Black Knight Financial Services' Data and Analytics division announced the selection of Ben Graboske to serve as chief technology officer.

Now that the overall economy is on more solid ground, Wells Fargo economists suggest that housing may soon follow in its footsteps. While some predict that the housing market is poised for more rentals than buys for years to come, particularly among millennials, Wells Fargo suggests the contrary.

DocMagic, Inc., a loan document preparation services provider headquartered in California, announced a partnership to make its service offerings available to users of Liquid Logics' loan origination system (LOS).